quiz 1 - The proprietorship form of business organization...

Info icon This preview shows pages 1–2. Sign up to view the full content.

View Full Document Right Arrow Icon
The proprietorship form of business organization Answer must have at least two owners in most states. generally receives favorable tax treatment relative to a corporation. combines the records of the business with the personal records of the owner. is classified as a separate legal entity. Which of the following is an advantage of corporations relative to partnerships and sole proprietorships? Answer Reduced legal liability for investors. Harder to transfer ownership. Lower taxes. Most common form of organization Which of the following is the best definition of an internal user of accounting information? Answer Investors who use accounting information to decide whether to buy or sell stock. Creditors like banks that use accounting information to evaluate the risk of lending money. Labor unions who use accounting information to examine the ability of the company to pay increased wages and benefits. Managers who use accounting information to plan, organize, and run a business.
Image of page 1

Info iconThis preview has intentionally blurred sections. Sign up to view the full version.

View Full Document Right Arrow Icon
Image of page 2
This is the end of the preview. Sign up to access the rest of the document.

{[ snackBarMessage ]}

What students are saying

  • Left Quote Icon

    As a current student on this bumpy collegiate pathway, I stumbled upon Course Hero, where I can find study resources for nearly all my courses, get online help from tutors 24/7, and even share my old projects, papers, and lecture notes with other students.

    Student Picture

    Kiran Temple University Fox School of Business ‘17, Course Hero Intern

  • Left Quote Icon

    I cannot even describe how much Course Hero helped me this summer. It’s truly become something I can always rely on and help me. In the end, I was not only able to survive summer classes, but I was able to thrive thanks to Course Hero.

    Student Picture

    Dana University of Pennsylvania ‘17, Course Hero Intern

  • Left Quote Icon

    The ability to access any university’s resources through Course Hero proved invaluable in my case. I was behind on Tulane coursework and actually used UCLA’s materials to help me move forward and get everything together on time.

    Student Picture

    Jill Tulane University ‘16, Course Hero Intern